I filled the car yesterday, which for reasons too dull to explain, is something I don't do very often. However, the tank was almost empty forcing me to pull into the petrol station and fill up. I couldn't believe the cost. It was ₤59.45. The price is now ₤1.149 a litre.
The oil price will send the world into a recession.
7 comments:
Alice,
Spot on. I think the oil price will rise until we hit recession. The pundits have been calling for an easing in price. Personally, I think we've hit the bubble stages. And the bubble will collapse when the price finally gets so high people really have to start cutting back.
When that is is anyone's guess. Most pundits figured we would be in recession at $50 or $75 a barrel of oil. Let alone $135.
You're paying over $8.50 a gallon. In the U.S., that would be seriously painful.
Don't fill up, use public transport instead.
Yes, conversely, I think that the price of fuel in the UK could significantly rise still.
If we're paying 115p at the pump, ~70p is tax and duty... so, 45p is all that relates to fuel itself. I'd not stop driving if fuel topped £2 a litre... and that would be a trebling of oil-imposed prices from today. If it makes the roads less congested I might even welcome it. ;)
Even if there is a short-term bubble, we are running out of oil globally. Supply simply can't keep up with the demand and thus, permanently high oil prices are here.
When the implications of peak oil become crystal clear, it will certainly lead to grief and suffering in many nations, but not necessarily create a huge recession.
£1.149 per litre? You were luck!
I paid 1.169 on saturday. Ouch!
Why don't they just suck the wallets out of our pockets and be done with it?
£1.149 per litre? You were luck!
I paid 1.169 on saturday. Ouch!
Why don't they just suck the wallets out of our pockets and be done with it?
1.149 - Tescos!
Post a Comment